The Realty Classroom Episode 58: Warning: Resist The Urge To Make Quick & Emotional Business Decisions!

The Realty Classroom Episode 58: Warning: Resist The Urge To Make Quick & Emotional Business Decisions!

“Stop making major business decisions that are complete course corrections believing that’s a smart solution to growing you real estate business.”

WHAT BROKERAGE WILL YOU JUMP TO NEXT?

Before you make a quick and emotional macro decision like jumping to a new brokerage, stop and ask what it is that you don’t have that’s preventing you from growing. Is that brokerage that’s luring you in with sizzle on the steak really going to help your business grow? A new brokerage may offer so much sizzle and crackle that no one challenges themselves with important questions like, How will this help my independent business grow? Impetuous business decisions are based on emotion, whether we want to admit it to ourselves or not. Get a contrarian opinion.

WHAT TEAM WILL YOU JUMP ONTO NEXT?

I’ve heard this a lot lately. Jumping to a new team without thinking it through can lead to all sorts of bad situations: cannibalism of business, split revenues, an inability to keep up with top producers which leads to grumbling and so on. Take the time to make a rational decision: Write down the pros and cons of being independent versus joining a team or brokerage, both of which may or may not really offer the help you need. Again: Get a contrarian opinion.

WHAT WEBSITE WILL BE YOUR SAVIOR?

I’ve seen a lot of top producers fall into this trap. Some new website platform may offer a ton of lead generation, but is there a real conversion process? What happens a lot of times is a ton of brokers jump to a new web platform and therefore, curious consumers follow — but they’re not real leads and there’s no conversion process. I offer a ton of helpful advice for your website in this section of the podcast — trust me, you need to listen to this!

THE REAL QUESTION: WHAT STRATEGY ARE YOU FOLLOWING?

Before you make any of these decisions (brokerage, team website), did you ever really ask yourself, What strategy am I following? You may join a new brokerage, followed by a new team, which is followed by a new website — but is there any money left at the end of that? For anybody? That’s a pretty good strategic question! The bottom line is that you shouldn’t be in a hurry to make so many impetuous decisions.

THE PROCESS FOR IMPROVEMENT: WHAT SMALL ADJUSTMENTS ARE YOU MAKING?

It’s now ten times harder to grow an independent business than ever before. The small business failure rate is way higher than the experts state. That’s because most people don’t have the discipline to sit still, think, and make small strategic adjustments.

Take action now!

 

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